Billionaires at Trump’s Swearing-In Have Since Lost $209 Billion
www.bloomberg.com
As Donald Trump took the oath of office on Jan. 20, he was flanked by some of the world’s wealthiest people. The billionaires present that day — including Elon Musk, Jeff Bezos and Mark Zuckerberg — had never been richer, flush with big gains from frothy stock markets.

Summary

Since Trump’s second-term inauguration, five top billionaires have lost a combined $209 billion as markets react to policy uncertainty.

  • Elon Musk’s net worth plunged $148 billion as Tesla shares collapsed amid declining European and Chinese sales.

  • Jeff Bezos lost $29 billion as Amazon stock fell 14%.

  • Sergey Brin’s fortune dropped $22 billion following Alphabet’s weak earnings and regulatory pressure.

  • Mark Zuckerberg and Bernard Arnault each lost $5 billion as Meta and LVMH stocks tumbled.

The S&P 500 is down 6.4%, reversing gains seen post-election.

Non-paywall link

  • snooggums@lemmy.worldEnglish
    411·
    1 day ago

    They lost pretend money that could be used for business loans that they don’t need because they have so much pretend money. The only time it matteds for these parasites is if it happens when they are acquiring another company worth billions of pretend monies.

    Even a stock market collapse is a benefit to these chucklefucks.

    • AbidanYre@lemmy.worldEnglish
      161·
      1 day ago

      The only time it matters for them is when an Italian plumber shows up to collect their debt.

    • henfredemars@infosec.pubEnglish
      14·
      1 day ago

      Everything‘s on discount for them now! Time to buy up some cheap stock and failing businesses.

      They win no matter what.

      • Kyouki@lemmy.worldEnglish
        3·
        1 day ago

        Always stood by for, with (fake) money you can make more (fake) money.

        The issue is mostly getting towards that money first for us normies who aren’t born into RNG.